India, 2nd February 2018 : Terming Budget” Union Budget 2018 proposals as ‘historic’, Union Ministers Rajnath Singh and Nitin Gadkari on Thursday said it would help bridge the gap between rural and urban India.<\/p>\n
Union Minister for Surface Transport Nitin Gadkari said, “Medical insurance of Rs. 5 lakh for 10 crore families is a huge initiative. This is a ‘historic’ budget.”<\/p>\n
Union Home Minister Rajnath Singh termed the Budget as a “budget for a progressive and positive India”<\/p>\n
He said it would help bridge the gap between rural and urban India.<\/p>\n
“It’s a grand budget, lot of announcements for the poor, farmers and tribal. This budget will also cement India as a global economic power,” Singh told ANI.<\/p>\n
Finance Minister Arun Jaitley stressed that this year’s budget proposals would focus on four aspects namely – strengthening of agriculture, education, healthcare benefits and improving infrastructure.<\/p>\n
Jaitley also announced two new measures in his fifth Budget under the government’s Ayushman Bharat scheme, which are expected to take healthcare to greater heights.<\/p>\n
Jaitley also proposed to cut the corporate income tax rate to 25 percent for companies with a turnover of up to Rs. 250 crore.<\/p>\n
While presenting the Budget proposals, the minister said that the tweak will result in 7,000 companies coming under the 25 percent tax slab.<\/p>\n
He added that the government will receive Rs. 7,000 crore less in the form of revenues due to this decision.<\/p>\n
“This will see the extension of a trend as the share of corporate tax to total revenues has come down from 34.45 percent in 2014-15 to 28.18 percent in 2017-18, under the Modi government,” added Jaitley.<\/p>\n","protected":false},"excerpt":{"rendered":"